Interview for RBI deputy governor post on 29 July

S.S. Mundra is completes his three-year term as RBI deputy governor in July-end. Photo: Abhijit Bhatlekar/Mint

New Delhi: A search panel headed by the cabinet secretary is scheduled to interview candidates on 29 July to find a successor for Reserve Bank of India (RBI) deputy governor S.S. Mundra, who is completing his three-year term in July-end.

The financial sector regulatory appointment search committee (FSRASC) has shortlisted about 10 names who have been called for interview on 29 July, people familiar with the matter said.

Besides, former managing directors of Union Bank of India and Oriental Bank of Commerce Arun Tiwari and Animesh Chauhan, respectively, are also in the fray for the position reserved for a banker.

A few names from the private sector have also been shortlisted, the people said.

The central bank has four deputy governors—two from within the ranks and one commercial banker and another an economist to head the monetary policy department.

The members search committee includes RBI governor, financial services secretary and three independent members.

Independent members of the committee are Rajiv Kumar, senior fellow at Centre for Policy Research; Manoj Panda, director, Institute of Economic Growth; and Bimal Patel, director, the Centre for Environmental Planning and Technology (Cept).

According to the notice put up on the RBI’s website, applicants should have extensive experience as a full-time director or board member, and possess understanding, at a very senior level, of supervision and compliance in the financial sector.

Strong competencies working with financial performance data, including interpreting, summarising and communicating high-level output and strong and clear communication skills on matters of public policy are also listed as criteria for sending application, it said.

The last date for filing applications was 21 June and those applying for the post should not exceed 60 years of age as on 31 July 2017.

Following the announcement, about 90 applications had come and after scrutiny, about 10 were shortlisted.

The appointment will be made for a period of three years and the person will be eligible for re-appointment. The post will have a fixed salary of Rs2.25 lakh per month plus allowances.